Sri Lanka sovereign bond rated ‘B+(EX) by Fitch

ECONOMYNEXT – Fitch Ratings has given a ‘B+(EXP)’ rating to an international sovereign bond Sri Lanka is currently marketing.

The rating is in line with Sri Lanka’s issue default rating of ‘B+’ with a stable outlook.

Sri Lanka started marketing the bond with a price guidance of around 6.2 percent, Bloomberg Newswires reported.

The full statement is reproduced below:

Fitch Rates Sri Lanka’s USD Bond ‘B+(EXP)’

Fitch Ratings-Colombo-04 May 2017: Fitch Ratings has assigned Sri Lanka’s upcoming US dollar-denominated bonds an expected rating of ‘B+(EXP)’.

KEY RATING DRIVERS

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The expected rating is in line with Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) of ‘B+’ with a Stable Outlook.

RATING SENSITIVITIES

The rating would be sensitive to any changes in Sri Lanka’s Long-Term Foreign-Currency IDR. In February 2017,

Fitch affirmed Sri Lanka’s Long-Term Foreign-Currency IDR at ‘B+’ and revised the Outlook to Stable from Negative. The Long-Term Local-Currency IDR is also ‘B+’ with a Stable Outlook.
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